03/07/2013
[ACCESSWIRE]
NEW YORK, March 07, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Time Warner Inc, Hertz Global Holdings, J.C. Penney Company.
The Shares of Time Warner Inc(NYSE:TWX) rose by more than 1% to $56 following the company’s statement last night that it will spin off the whole of its publishing division. After the transaction that has been proposed, Time Inc. will be able to operate as an independent, publicly traded company. The target of Time Warner is to complete the transaction by the end of this year.
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Jeff Bewkes, the Chairman and Chief Executive Officer of Time Warner has stated that following a thorough review of the available options, the company has finally come to the conclusion that a separation will put both Time Warner as well as Time Inc. in better positions.
This spin off will enable Time Warner to concentrate on their television networks and production businesses pertaining to films and TV. Time Inc. on the other hand will have the advantage of being a standalone company and now will be able to get more natural stockholder base. As witnessed in previous spin offs, AOL and Time Warner Cable, the company is hopeful that the separation will be able to create additional value for the stockholders.
Hertz Global Holdings, Inc.(NYSE:HTZ) made an announcement today regarding the aggregate sale of 60,050,777 shares of common stock of the company by investment funds that are associated with The Carlyle Group, Clayton, BofA Merrill Lynch, and Dubilier & Rice, LLC to Barclays Capital Inc. and Citigroup as the underwriters in the registered public offering of those shares. These investment funds are selling the shares on pro rata basis according to their current ownership interests.
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However, ML Hertz Co-Investor, L.P., and ML Global Private Equity Fund, L.P., are two investment funds that are associated with Merrill Lynch, and each of them are selling of the shares of Hertz Holdings, common stock which they presently hold of record.
J.C. Penney Company, Inc.(NYSE:JCP) has fired nearly 2,200 workers in its district offices as well as stores on Wednesday, as per The Dallas Morning News.
These layoffs come after another 19,000 workers being fired a year back since the company started its transformation with the CEO, Ron Johnson at the helm.
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Sales at the retail chain as of the first full year of the turnaround saw a steep drop as customers failed to get used to the initial plan of Johnson to adopt everyday-low costs and shops within stores.
Analysts at Oppenheimer and Citigroup have downgraded their ratings on JC Penney’s stock and have cut their price targets as they are becoming less positive about the company’s turnaround in the upcoming term.
Interestingly, the retailer’s shares went up by 2.3% in Thursday after a three-day drop that wiped out about 1/5th of the stock’s value. New York Post has cited some anonymous sources in reporting that the struggling department store chain has lain off 1,500 merchandising positions as well as store-level department managers. A month back, it had fired 300 people from its headquarter in Texas. Around 19,000 workers have lost their job posts since CEO Ron Johnson came to the company in 2011.
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